Correlation Between Turkcell Iletisim and Silverline Endustri
Can any of the company-specific risk be diversified away by investing in both Turkcell Iletisim and Silverline Endustri at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Turkcell Iletisim and Silverline Endustri into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Turkcell Iletisim Hizmetleri and Silverline Endustri ve, you can compare the effects of market volatilities on Turkcell Iletisim and Silverline Endustri and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Turkcell Iletisim with a short position of Silverline Endustri. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkcell Iletisim and Silverline Endustri.
Diversification Opportunities for Turkcell Iletisim and Silverline Endustri
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Turkcell and Silverline is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Turkcell Iletisim Hizmetleri and Silverline Endustri ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Silverline Endustri and Turkcell Iletisim is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Turkcell Iletisim Hizmetleri are associated (or correlated) with Silverline Endustri. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Silverline Endustri has no effect on the direction of Turkcell Iletisim i.e., Turkcell Iletisim and Silverline Endustri go up and down completely randomly.
Pair Corralation between Turkcell Iletisim and Silverline Endustri
Assuming the 90 days trading horizon Turkcell Iletisim Hizmetleri is expected to generate 0.71 times more return on investment than Silverline Endustri. However, Turkcell Iletisim Hizmetleri is 1.41 times less risky than Silverline Endustri. It trades about 0.19 of its potential returns per unit of risk. Silverline Endustri ve is currently generating about 0.02 per unit of risk. If you would invest 8,465 in Turkcell Iletisim Hizmetleri on September 4, 2024 and sell it today you would earn a total of 720.00 from holding Turkcell Iletisim Hizmetleri or generate 8.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkcell Iletisim Hizmetleri vs. Silverline Endustri ve
Performance |
| Timeline |
| Turkcell Iletisim |
| Silverline Endustri |
Turkcell Iletisim and Silverline Endustri Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkcell Iletisim and Silverline Endustri
The main advantage of trading using opposite Turkcell Iletisim and Silverline Endustri positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkcell Iletisim position performs unexpectedly, Silverline Endustri can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Silverline Endustri will offset losses from the drop in Silverline Endustri's long position.| Turkcell Iletisim vs. Turk Telekomunikasyon AS | Turkcell Iletisim vs. Aselsan Elektronik Sanayi | Turkcell Iletisim vs. Koc Holding AS | Turkcell Iletisim vs. Turkiye Petrol Rafinerileri |
| Silverline Endustri vs. Koc Holding AS | Silverline Endustri vs. Eregli Demir ve | Silverline Endustri vs. Turkiye Sise ve | Silverline Endustri vs. Turkcell Iletisim Hizmetleri |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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